On Thursday, April 23, 2020, the U.S. House of Representatives voted on and passed the newest coronavirus aid bill, which includes funding for small businesses, hospitals, and coronavirus testing. What is included in the new bill? The bill provides $484 billion in total funding. Of those funds, $310 billion would replenish the federal small business […]

On April 23, 2020, the Equal Employment Opportunity Commission (EEOC) issued additional answers to frequently asked questions (FAQs) about how employers should comply with the Americans with Disabilities Act (ADA) during the coronavirus / COVID-19 pandemic. The additional FAQs were added to guidance that the EEOC originally issued on March 18, April 9, and April […]

Know Your Benefits HeaderOn March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law.

In addition to providing direct financial assistance to Americans, the CARES Act repeals the Medicine Cabinet Tax provision of the Affordable Care Act (ACA), expanding the list of qualifying expenses that can be reimbursed with health reimbursement arrangements (HRAs).

CARES Act and Qualifying Medical Expenses

Know Your Benefits HeaderOn March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (CARES Act) was signed into law.

In addition to providing direct financial assistance to Americans, the CARES Act repeals the Medicine Cabinet Tax provision of the Affordable Care Act (ACA), expanding the list of qualifying expenses that can be purchased with flexible spending accounts (FSAs).

CARES Act and Qualifying Medical Expenses

New IRS Form 7200 Families First Coronavirus Response Act Leave Tax Credit and Coronavirus Aid, Relief, and Economic Security Act Employee Retention Tax Credit. The Internal Revenue Service (IRS) recently released IRS Form 7200 along with completion Instructions. Form 7200 may be used by an employer to request an advance payment of tax credits for […]